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CME has announced it is adding Turkish lira futures, denominated in both USD and EUR, to its suite of products as it attempts to continue gobbling up the exchange-traded FX market. The new contracts are due to go live in January, 2009.

Guy Plummer, who recently joined Calyon London from Bear Stearns, is rumoured to have left to join a hedge fund.

Credit Suisse has confirmed the hire of Martin Amann in hedge fund sales and Xiasong Wu in New York. Both are exiles from Lehman Brothers.

Eddie Listorti, Dresdner Kleinwort’s head of FICC, and Stefan Gűtter, its head of sales, will not now be taking up the senior positions they had been earmarked for at Commerzbank once the two banks are integrated sometime in Q3 of 2009. There is some debate about why that is and depending on who you listen to, it is either because they did not like their new salary packages, or because they did not like the strategic direction they were being taken in. Whatever is the true reason, their decisions will no doubt lead to a good deal of uncertainty among their existing staff at Dresdner. Dresdner performed well in the 2008 Euromoney poll, up from 18th to 12th.

Structured products will overtake exchange-traded funds in market share over the next several years. The latest research study by Financial Research Corp. called "Caught Between Alpha & Beta: The Future Of Retail Portfolio Construction" finds that structured products will increase their market share from 5.3% at the end of 2007 to 7.5% by 2012, while ETFs will have 6.8% of the market by 2012. "Structured products represent a wide variety of customized investment vehicles and a growing number of advisors are using them to provide principal protection to their retiree and baby boomer clients while still giving them market exposure," said Kristin Adamonis, senior editor.

Top exchange-traded-fund provider iShares is attributing sector growth to market turmoil as investors seek ways to hedge risk. In September, iShares trading volumes reached EUR25 billion for its European listed ETFs, compared with EUR15 billion for September 2007.

As investors move from panic, through shell-shock to quiet reassessment, they should separate the capital market crisis, which governments are solving, from the recession, which they cannot.

Exchange Traded Fund (ETF) provider, iShares has experienced exceptionally large gross trading volumes, reaching more than €25 billion in trading of its European listed ETFs versus €15 billion in September 2007.

The question mark is there for the obvious reason that although this has come from an impeccable source, these days you can never be sure. Apparently, Deutsche has hired Elaine Choo, Ed Popham Holloway and Ben Mercer to work in FX institutional sales

A new settlement solution has been launched this week by Wall Street Systems.

As readers will be aware, the global unwinding of the FX carry trade has led to some extreme bouts of volatility. This appears to have generally been good for a lot of banks and other market makers; but it has been absolutely catastrophic for many of their clients, especially in some emerging markets.

The ousting of various chief executives of financial institutions around the world is natural, given the size of the value destruction they have overseen. But as the sorry saga – known variously as the credit crunch, liquidity crisis, sub-prime debacle or complete and utter financial carnage – plays out, many are starting to play the blame game.